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USD 3.05 billion potential growth in hand hygiene market size, says report
A new market outlook report titled 'Hand Hygiene Market by End-user and Geography - Forecast and Analysis 2022-2026' has been added to Technavio's catalog.
This recent market analysis report identifies the market to witness a potential growth difference ofUSD 3.05 billion from 2021 to 2026. The hand hygiene market is anticipated to record an accelerating growth momentum at a CAGR of 7.73% during this period.
Technavio says that the hand hygiene market is fragmented, and that vendors are deploying growth strategies such as product innovations to compete in the market. Some of the key players covered in this report include: 3M, Colgate Palmolive, EcoHydra Technologies, Godrej and Boyce Manufacturing, GOJO Industries, Kimberly Clark Corp., Kutol Products, Medline Industries, Neogen Corp., Reckitt Benckiser Group, S.C. Johnson and Son, Skinvisible Pharmaceuticals, The Clorox Co., The Procter and Gamble Co., Unilever, Cleenol Group, B4 Brands, Kiilto Family Group, Paul Hartmann AG, and Vi Jon, amongst others.
The report also acknowledges:
- Many vendors are offering hand hygiene products that are made from organic ingredients, which keep the hands soft and supple. Thus, the increasing demand for skin-safe products is expected to drive market growth during the forecast period.
- Growing awareness about the toxicity of chemical ingredients is likely to hinder the market growth. Most sanitisers use alcohol as an essential ingredient. However, it dries the skin and enables bacteria to multiply. Hand hygiene products also contain triclosan or triclocarban, which are agents that kill both bad and beneficial bacteria. The presence of sodium lauryl sulfate (SLS) in most hand hygiene products can lead to cell membrane damage and loss of hair. All these factors pose a challenge to the growth of the global hand hygiene market during the forecast period.
- The demand for hand hygiene products increased in APAC owing to the outbreak of diseases such as Covid-19 in different countries. The outbreak of Covid-19 in 2020 had a severe impact on the health and wellbeing of the people in different countries in APAC, such asIndia,China,South Korea, andMalaysia. This increased the demand for hand sanitisers in 2020.
- By end-user, the market has been segmented into commercial, industrial, and residential. Thecommercial segmentwill have significant market share growth during the forecast period. The significant rise in the demand for hand hygiene products from hospitals and the hospitality industry will drive the market growth through this segment.
- By geography, the market has been segmented into APAC,North America,Europe,South America, andMiddle EastandAfrica.APACwill account for 34% of the market's growth during the forecast period. The high risk of contagious diseases turning epidemic will drive the hand hygiene market growth in APAC during the forecast period.
As well as detailing the CAGR of the market during the forecast period2022-2026, the report includes detailed information on factors that will drivehand hygiene market growth during the next five years, along with accurate predictions on upcoming trends and changes in consumer behaviour. It covers the growth of the hand hygiene market inNorth America, APAC,Europe, MEA, andSouth Americaand the top 20 countries across these regions and includes a thorough analysis of the market's competitive landscape and detailed information on over 20 industry-focused market vendors classified as dominant and strong players. It also takes into account the impact of lockdowns, supply chain disruptions, demand destruction and change in customer behavior and includes pre- as well as post-Covid-19 market estimates. Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds, are covered too.
19th May 2022